as the price of a good decreases, the quantity demanded of that good increases.

When the price of a good decreases, consumers will substitute away from goods that are relatively more expensive to cheaper goods

When the price of a good decreases, it is as if the buyer of the good’s income went up

 the total amount of a specific good/service that is available to consumers.

 the exact price where the quantity of goods supplied is equal to the quantity of goods demanded.

a situation in which the demand for a good/service exceeds its supply in a market.

 a situation in which the demand for a good/service is less than its supply in a market.

the lowest legal price that a good/service can be sold for

the highest legal price that a good/service can be sold for

Which of the following is NOT a shifter of demand?

Which of the following is NOT a shifter of supply?